102 Brummett Rd

Unicoi, TN 37692

$276,000D

3 bd · 3.0 ba · 2,912 sqft · Built 1993 · SingleFamily · Pending · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,314/mo
• Mortgage (P&I): −$1,447
• Tax + insurance: −$198
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $-608/mo
• Annual: $-7,291/yr
• Cap rate: 3.65%
• Cash-on-cash: -9.43%
• DSCR: 0.58
• 1% rule: 0.48%
• Cash to close: $77,280

Investor read

• This is a 3-bed/3.0-bath single-family listed at $276k.
• At list price, monthly cash flow is $-608 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (38.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (52.4% below list).
• It's been on market 108 days — a 9% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (52.4% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#236 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Unicoi County (town): math 25% / reading 26% proficiency, ranked #88 of 139 in TN (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Unicoi Elementary (math 22% / reading 22%, grade F, #601 of 952 statewide, top 66%, 317 students, 0% FRL); Unicoi Co Middle School (math 26% / reading 22%, grade F, #160 of 333 statewide, top 48%, 446 students, 0% FRL); Unicoi Co High School (math 8% / reading 34%, grade F, #174 of 332 statewide, top 52%, 713 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 57 active listings in the ZIP; 24 units permitted in Unicoi County in 2024 (0 in 5+ unit buildings).
• Unicoi County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $39k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.